21 worst metros for homeownership

[GON]

The bottom five metropolitan areas in the ranking have an average five-year median home value appreciation of 35.46%. The average homeownership rate in these metros is 57.36%.

List was somewhat surprising/ unexpected. I would like to see the same list for ten years, as the past five years really shook things up in the housing markets. I understand why only five years though- the past is gone, need data that is relevant for today.

BTW- the source is lending tree, but the link to the story is National Mortgage News. Fascinating site- I am sure the site is there to get "clicks", but still a lot of thought provoking themes when it comes to home prices, etc.

https://www.nationalmortgagenews.com/list/21-worst-metros-for-homeownership

 

[ArrestMeRedZ]

I don't know if I've gone blind, but I can't find their criteria or methodology anywhere. Unless it is provided, I find this ranking useless.

Edit - if you click the Lending Tree link in the article, it takes you to the original Lending Tree article that describes the criteria. I withdraw my comment until I have a chance to analyze the process.

 

[Pablo]

Sort of a misleading headline and some odd criteria.

That said - the list - is a list of places to avoid!

 

[BMWTurboDzl]

The bottom five metropolitan areas in the ranking have an average five-year median home value appreciation of 35.46%. The average homeownership rate in these metros is 57.36%.

List was somewhat surprising/ unexpected. I would like to see the same list for ten years, as the past five years really shook things up in the housing markets. I understand why only five years though- the past is gone, need data that is relevant for today.

BTW- the source is lending tree, but the link to the story is National Mortgage News. Fascinating site- I am sure the site is there to get "clicks", but still a lot of thought provoking themes when it comes to home prices, etc.

https://www.nationalmortgagenews.com/list/21-worst-metros-for-homeownership

Ya not surprised. It's not uncommon to see deals in these areas which contain 3 or more borrowers.

 

[bbhero]

Chicago ranked 18th … Though they are undefeated and have yet to play San Francisco and LA…

Last I heard San Fran was favored and has a +7 per the latest line from Vegas.

 

[GON]

Chicago ranked 18th … Though they are undefeated and have yet to play San Francisco and LA…

Last I heard San Fran was favored and has a +7 per the latest line from Vegas.

Don't comprehend your post. But I will say this. Buy a home in San Francisco today, it will be sellable and at a profit in seven to 10 years. Buy a.hone in Chicago today, very unlikely it will be sellable in seven to 10 years, and if sellable the Chicago home will be sold at a loss.

Rankings don't tell the entire story. But the rankings do promote critical thinking for home buyers.

 

[bbhero]

Don't comprehend your post. But I will say this. Buy a home in San Francisco today, it will be sellable and at a profit in seven to 10 years. Buy a.hone in Chicago today, very unlikely it will be sellable in seven to 10 years, and if sellable the Chicago home will be sold at a loss.

Rankings don't tell the entire story. But the rankings do promote critical thinking for home buyers.

College football and or baseball reference….

You see teams… ranked lower can be undefeated… and yet have not played those teams ranked above them…. And if and when they play them or other teams ranked above them and beat them….. they obviously move up and ahead of them if they beat them.

I have seen that happen in both college football and basketball. Many many times in fact…

So I’m quite shocked Chicago is ranked a low #18… That place is top 5 material in my opinion.

 

[GON]

College football and or baseball reference….

You see teams… ranked lower can be undefeated… and yet have not played those teams ranked above them…. And if and when they play them or other teams ranked above them and beat them….. they obviously move up and ahead of them if they beat them.

I have seen that happen in both college football and basketball. Many many times in fact…

So I’m quite shocked Chicago is ranked a low #18… That place is top 5 material in my opinion.

I think Chicago is ranked 18 instead of top five because the entry into the Chicago housing market is significantly less than markets such as Los Angelos and San Francisco. A home in Chicago can be had for $300k all day long. A like home in Los Angelos or San Francisco may be well over one million dollars.


Kind of like buying a new Dodge Dart and a new Chrysler 300. The Dart only cost $20k, the Chrysler 300 $40k. The Dart may lose 50 percent of its value in two years, so the loss is $10,000. A Chrysler 300 hundred may lose 40 percent of its value in two years, for a $16,000 loss. So a new Chrysler 300 loses more dollars in two years that a Dodge Dart, but a Dodge Dart lost a higher percentage of its value than the Chrysler 300.

 

[John105]

I don't know if I've gone blind, but I can't find their criteria or methodology anywhere. Unless it is provided, I find this ranking useless.

Edit - if you click the Lending Tree link in the article, it takes you to the original Lending Tree article that describes the criteria. I withdraw my comment until I have a chance to analyze the process.

Losing a Super Bowl, and a World Series, moves a city up the ladder

 

[ArrestMeRedZ]

Losing a Super Bowl, and a World Series, moves a city up the ladder

Ah, I get it now. Las Vegas must be on that list because we got the lousy Raiders, and are getting the useless A's. Since we are in the desert, winning the Stanley Cup didn't help.

 

[bbhero]

I think Chicago is ranked 18 instead of top five because the entry into the Chicago housing market is significantly less than markets such as Los Angelos and San Francisco. A home in Chicago can be had for $300k all day long. A like home in Los Angelos or San Francisco may be well over one million dollars.


Kind of like buying a new Dodge Dart and a new Chrysler 300. The Dart only cost $20k, the Chrysler 300 $40k. The Dart may lose 50 percent of its value in two years, so the loss is $10,000. A Chrysler 300 hundred may lose 40 percent of its value in two years, for a $16,000 loss. So a new Chrysler 300 loses more dollars in two years that a Dodge Dart, but a Dodge Dart lost a higher percentage of its value than the Chrysler 300.

Understand…

But that place is a number2 hole … Yes much less expensive… But quite, quite rough.

Amazing the difference in markets… in Williamsburg…. 1 million a get you quite and I mean quite a house.

2 million will get you a extremely awesome home here.

I remember the Mars estate ( aka the Mars candy family) went up for sale in my home county of Gloucester and it was listed for 25 million… You can see that massive home on a high bluff overlooking the York River from the colonial parkway and that is a distance of almost 2 miles away… It’s massive and has private 24 hour security on premises and helicopter pad etc etc etc In 2004… Great day can’t imagine what that would go for now.